CAMPBELL, CA—Vista Investment Group's most recent acquisition offers the Santa Monica, CA-based real estate investment firm the opportunity to create value in one of the most supply-constrained submarkets in Silicon Valley. This will be accomplished by continuing to reposition older buildings in the project to a more creative office standard and leveraging off of an expansive campus setting, which is one of the largest contiguous land sites in the area, according to Vista's president Jonathan Barach.

In the mega-investment transaction, Vista Investment Group in joint venture with an institutional money management firm, acquired the 314,256-square-foot Vasona Technology Park for $113 million. The technology park features seven freestanding one- and two-story office and R&D buildings ranging in size from 16,000 to 74,000 square feet. Developed in 1963 and 1981, Vasona Technology Park is located on an 18.5-acre site at 210 East Hacienda Ave., bordered by Winchester Boulevard, East Hacienda Avenue and Dell Avenue.

“This is our fourth, and probably most exciting project in the Silicon Valley,” said Barach. “The property is anchored by investment-grade tenants with long-term leases, and will benefit from both interior and exterior improvements, which we will implement as leases expire over the next several years. We will work immediately to improve the outdoor common areas with the creation of large collaborative work, dining and recreation spaces throughout the campus. The campus is proximate to highly desirable executive housing in the neighborhoods of Los Gatos, Saratoga and Monte Sereno.”